Commercial lender touts securitisation venture

by AB01 Jul 2014
A commercial lender has closed its first securitisation transaction, the first commercial transaction in Australia since 2007.

Thinktank has closed a $113.6m commercial mortgage backed securities transaction, and CEO Jonathan Street said the issuue is significant for the broader industry as well as his company.

“It is a significant transaction for our business as well as for asset backed issuance in the local market and has been achieved through the combined efforts over an extended period of a number of parties,” Street said.

The transaction is the first pure small ticket CMBS transaction in Australia since 2007. Deutsche Bank acted as Arranger, while Commonwealth Bank and Deutsche Bank were Joint Lead Managers.

“This transaction demonstrates the strength of the current market and the growing interest in asset classes outside residential mortgages. Thinktank has shown it can successfully access the capital markets and we look forward to working with Thinktank to broaden its investor base in the future,” CBA head of debt markets securitisation Rob Verlander said.